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Motor City’s Foreclosure Payment Purgatory

first_imgSign up for DS News Daily Subscribe Related Articles in Daily Dose, Featured, Foreclosure, News Motor City’s Foreclosure Payment Purgatory Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post About Author: Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Detroit tax foreclosure Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. center_img December 5, 2019 1,311 Views Home / Daily Dose / Motor City’s Foreclosure Payment Purgatory Despite programs aimed at reducing property tax foreclosures in the city, around one in four Detroit homeowners owes more in delinquent property taxes than they did three years ago, The Detroit News reports.Detroit’s plans included payment plans with lower interest rates and an extended five-year repayment deadline, however, the plans have kept thousands in a “payment plan purgatory” that likely will lead to the loss of their homes without more help.Though officials have praised the plan for keeping homeowners in their homes, and have reduced Detroit’s foreclosures from a record high 9,111 occupied homes in 2015 to 514 this year, many have found that the plans simply extend their deadline.”We are seeing the unintended consequences today,” former Wayne County Chief Deputy Treasurer David Szymanski told Detroit News. “We certainly didn’t want it to be a Band-Aid.”In a report earlier this year, Quicken Loans stated that, as of last year, 21% of homeowners were unaware their property was behind on property taxes, and another 61% of renters in tax-delinquent properties were unaware of the home’s tax status.According to the Quicken Loans, the efforts of the Quicken Loans Community Fund and its Neighbor to Neighbor partners led to 4,136 occupied homes being pulled from the Wayne County tax foreclosure auction.“As Detroit comes back, we need to do everything we can to make sure those who stayed in our city through good times and bad are able to stay in their homes,” Detroit Mayor Mike Duggan said. “We are seeing real progress in tax foreclosure reductions that impact all of our neighborhoods, and through programs like Neighbor to Neighbor, we will continue this important work in close partnership with the community.”Detroit is facing other foreclosure issues as well. The city still faces other foreclosure-related challenges. According to GOBankingRates and data from Zillow, 34.4% of homes are currently underwater, and the median home value at the Detroit-Warren-Dearborn metro-area level is $161,300, far below the national median of $226,300. GOBankingRates puts Detroit second on its list of U.S. cities most likely to enter a housing crisis. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Detroit tax foreclosure 2019-12-05 Seth Welborn Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: GSE Reform: ‘Lots of Work Remains’ Next: Housing Insurers Made to Stay Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

Fury vows to KO Wilder in second round

first_imgRelatedPosts Tyson Fury to Anthony Joshua: Don’t risk fighting Usyk Anthony Joshua wants Tyson Fury, Wilder fight Joshua: Tyson Fury won’t distract me Tyson Fury has vowed to knock Deontay Wilder out in the second round of their eagerly-anticipated heavyweight rematch next month. Fury and Wilder will go head-to-head at Las Vegas’ MGM Grand Garden Arena in February, 14 months after their controversial opening bout. Fury outboxed WBC heavyweight champion Wilder despite suffering two knockdowns, but the match was drawn. Speaking at the opening press conference to preview their rematch on February 22, Fury said: “Deontay knows he was rocked three or four times in the last fight and I didn’t have the gas to finish him. This time I can turn that screwdriver until he is gone. “You are going to sleep in two rounds. I keep having the same dream about round two. I am playing poker and I get dealt the number two card. He is getting knocked out in round two, 100 per cent. “What is going to happen is that I am going to get what I won last time. I am going to get that green belt, I am also going to get the Ring Magazine, and I am also going to keep my lineal championship, too. “And if he wants to rematch again, no problem. You beat a man once, you beat him again, you beat him three times in a row.” Fury, 31, has teamed up with Javan ‘Sugar’ Hill – the nephew of the late trainer Emmanuel Steward – after splitting from Ben Davison. Explaining the decision to switch trainers for the rematch, he said: “I know I am not going to get a decision in the United States. “I hired him [Hill] for a knockout. That’s the game plan. If I wasn’t looking for a knockout I would have kept hold of Davison. “I am looking for knockout number 21 [of his career]. That is brutally honest, that is coming from the heart.” The two fighters faced off before and after Monday’s press conference before exchanging a handshake. “I am prepared more than ever for this fight,” said Wilder, 34. “I knocked him out the first time. “I told Fury two years ago I was going to baptise him and I did just that.  Rising up is part of the baptism. “I told him he was going to go ‘timber’ and he did just that. This time around, it is called unfinished business and he won’t be able to get back up. I am going to knock him out. “I am the Lion. I am the king of the jungle and come February 22 I am going to rip his head off his body. I am going to knock him out of those ropes.”Tags: Ben DavisonDeontay WilderTyson Furylast_img read more